The market dropped 100-pts right on the opening bell and then stayed in a sideways band. It certainly appears that the sideways ranging is going to continue, albeit we still retain a positive interest in the broader indices strength. The Transports have broken up and out of the resistance and whilst they were weak last night they certainly were only slightly down. Its coming into quiet Christmas trade and with this sideways movement dragging on I think its time to hang up the boots for the year and await some new direction in 2010. Personally I’ll be managing my current open trades but not adding any new positions.
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Wed, Dec 9, 2009
US Commentary